Manufacturing KPI Dashboard
What is a Manufacturing Dashboard?
As more and more manufacturing data is generated, there is a problem that the most important information that is needed by the organization is hidden and unseen.
A Manufacturing Dashboard helps overcome this problem. Dashboards acts as an aid to decision making process of a business segment, through the transformation of the existing business data. The information is represented visually to give the intended users a clear direction for a smooth decision making process.
Role of Key Performance Indicators (KPI)
In the tight global competition nowadays, performance measurement has become very important for the management to properly evaluate the company’s performance and to formulate further future goals.
One of the approaches that can be used to measure performance is called Key Performance Indicators or simply KPI. KPIs are financial and non financial measures that organizations use to reveal how successful they were in accomplishing long lasting goals. KPIs lean towards real time data and are used to support in making decisions that can enhance manufacturing performance.
Types of Manufacturing Dashboards
Based on the individual requirements, different users have different dashboards. Higher level executives want to monitor the status of company. On the other hand, Managers analyze the performance-related information. Shop floor personnel are interested in details. Each user needs their own KPIs to be added into their own dashboard. Based on that, there are majorly 3 types of dashboards used in Manufacturing Industries.
- Strategy Dashboard
- Tactical Dashboard
- Operational Dashboard
Benefits of a Manufacturing KPI Dashboard
Common KPIs used in Manufacturing Industry
On Time Delivery (OTD)
It is an important KPI that ensures that company is meeting customer demand in terms of timely delivery of product supplies.
It is the percentage of scrap parts produced in a certain time period out of the total parts (good or bad) produced in that period.
It measures whether your factory’s actual operating performance meets your forecasted volumes (daily, weekly or monthly basis).
Overall Equipment Effectiveness (OEE) is the percentage of total manufacturing time when machinery is truly productive.
Downtime is the percentage of total time a machine or an equipment was idle out of the total operating time period.
Production Volume is the total number of units manufactured during a specified period of time.
It is the ratio of Cost of goods sold (COGS) / average inventory during a specified time frame.
First Time Yield (FTY) is measured by dividing total good or non-defective units produced by total units manufactured.
In today's world, data is the most important asset for any company. According to ISO 9000:2015, quality is the “degree to which a set of inherent characteristics of an object fulfills requirements.” Therefore, in our context, quality majorly refers to the extent of the goodness of a thing (for instance, data). Some of the major dimensions to assess the data quality are:
5X faster Inspections and Audits with dzInspect.
Mobile and Web based application for seamless data collection. One stop solution to digitize paper based forms/checklist and streamline your routine audits or inspections. Ensure timely and accurate data with dzInspect.